Market to open with a big gap on the higher side. As global cues are pointing to positive bias for the last two days, our market is expected to do well today.
Selling is the best option at higher levels.
The real trend will be known once the IIP and Inflation data are released today.IIP data may not be favourable.
Technically Nifty may have resistance at 2650/2680/2710 levels and support at 2530/2510/2485 levels for the day.
If Nifty breaks below 2500 levels, further weakness is expected in the short term and Nifty can go down to2200 and then 1850 levels in the coming days. At 1850 bargain hunting can be done for long term.
BSE, NSE Stock Ticker, India
Wednesday, March 11, 2009
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